Wawa (GL)

1495 Capital Circle Northwest, Tallahassee, FL 32303

$6,000,000

Cap Rate 4.50%

Views: 80 DOM: 39 Updated: 11.25.24 Posted: 11.12.24 Status: Active

Summary

Price $6,000,000	Built/Renov 2024	Tenant Wawa (GL)
Cap Rate 4.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 5,943	Lease Start 10-27-2024	#Units 1,050
Price/SF $1,009.59	Expiration 10-31-2044	Tenant Type Convenience/Gas
NOI $270,000	R. Term 19.10	Ownership Ground Lease
Rent/SF $45.43	Increases 7.0%/5/yrs	Pop 5Mi 11,526
Lot/AC 2.39	Options 6/5yrs/7%	AHHI 5Mi $62,746

Lease Highlights

2024 construction featuring high-quality materials, distinct design elements and high-level finishes
Brand new 20-year ground lease with 6 (5-year) options to extend
The lease features 7% rental increases every 5 years starting in lease year 11 and at the beginning of each option period
Corporate guaranteed lease

Location Description

The newly constructed Wawa is strategically positioned at the signalized, hard-corner intersection of Capital Circle NW and Hartsfield Road, with a combined daily traffic count of 44,800 vehicles. To the east, a robust industrial corridor provides a steady consumer base, while its location just south of I-10 (59,000 VPD) and north of Tennessee Street (31,700 VPD)—two major commuter...

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Key Features

New construction
Signalized intersection
Top 100 MSA
Strong demographics
Income tax free state
Population increase trend
Brand new lease
Long 20+ yr lease
Absolute NNN
Corporate Guarantee

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Links

Wawa Wikipedia Wawa Wikipedia Tallahassee, Florida Zip Code 32303 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Wawa
Guarantor:Corporate
Company:Wawa, Inc.
# Units:1,050
Stock:Private

About Tenant

Wawa, Inc. is an American chain of convenience stores and gas stations located along the East Coast of the United States, operating in Pennsylvania, New Jersey, Delaware, Maryland, Virginia,...

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Listing Broker

Patrick Nutt

SRS National Net Lease Group

Contact

262 Listings
30188 Views
93 Sold

William Wamble

SRS National Net Lease Group

Contact

186 Listings
23335 Views
49 Sold

Patrick Nutt

Patrick Nutt joined SRS as executive vice president for the National Net Lease Group and market leader in the Fort Lauderdale office in 2019. He leads the Fort Lauderdale office where he is tasked with recruiting and expansion efforts in the region and elevating the SRS brand throughout Florida. Additionally, Patrick Co-heads the National Net Lease Group for SRS, a group of 50 investment sales professionals who in 2020 managed over 500 transactions with an aggregate value of nearly $2 Billion

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William Wamble

Will Wamble joined SRS in early 2019 and specializes in the advisory and sale of net leased properties, specifically in the Southeast. With more than $350M worth of transactional experience in his career, Will prides himself on valuing hard work and dedication to his clients. Will emphasizes collaboration and putting the best team together to find creative solutions to getting transactions completed. He started his commercial real estate career in 2013 with Marcus & Millichap where he focus

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